LHYAX | High Yield Fund Class A | Lord Abbett

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High Yield Fund

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Daily price w/o sales charge as of 12/05/2023

$6.17

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YTD Returns w/o sales charge as of 12/05/2023

7.32%

Please click here for performance current to the most recent quarter-end and month-end.

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Summary

Summary

What is the High Yield Fund?

The Fund seeks to deliver current income and the opportunity for capital appreciation by investing primarily in high yield corporate bonds.
 

A HERITAGE OF HIGH YIELD

Brings a 40+ year history of high-yield investing, focused on fundamental, bottom-up credit research.

AN OPPORTUNISTIC APPROACH

Provides the flexibility to adjust to the market environment and take advantage of opportunities across the credit spectrum.

STRONG TRACK RECORD

Has offered a track record of strong performance versus peers in up and down markets, demonstrating the strength of this active approach as a core high-yield holding over a full market cycle.

Yield

Average Yield to Maturity as of 10/31/2023

9.47%

30-Day Standardized Yield 1 as of 11/30/2023  

7.48%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Fund Basicsas of 10/31/2023

Total Net Assets
$3.80 B
Inception Date
12/31/1998
Dividend Frequency
Monthly
Fund Gross Expense Ratio
0.90%
Fund Net Expense Ratio
0.90%
Number of Holdings
669
Minimum Initial Investment
$1,500+

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 6.52% 5.50% -0.16% 2.64% 3.61% 5.81%
Lipper Category Avg. High Yield Funds - - - - - -
ICE BofA U.S. High Yield Constrained Index 9.50% 8.69% 1.46% 4.00% 4.20% 6.10%
w/ sales charge 4.14% 3.17% -0.92% 2.18% 3.37% 5.71%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 3.40% 7.22% 0.47% 1.26% 3.62% 5.72%
Lipper Category Avg. High Yield Funds 5.24% 9.40% 1.63% 2.44% 3.38% -
ICE BofA U.S. High Yield Constrained Index 6.03% 10.28% 1.85% 2.80% 4.17% 6.00%
w/ sales charge 1.09% 4.76% -0.28% 0.81% 3.38% 5.63%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Type Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Maturity Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 10/31/2023 View Portfolio

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

INVESTMENT TEAM

Steven F. Rocco
Steven F. Rocco, CFA

Partner & Co-Head of Taxable Fixed Income

22 Years of Industry Experience

Robert A. Lee
Robert A. Lee

Partner & Co-Head of Taxable Fixed Income

32 Years of Industry Experience

Christopher Gizzo
Christopher Gizzo, CFA

Partner, Deputy Director of Leveraged Credit

15 Years of Industry Experience

Karen J. Gunnerson
Karen J. Gunnerson

Portfolio Manager

13 Years of Industry Experience

Supported By 78 Investment Professionals with 17 Years Avg. Industry Experience

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Performance

Performance

Average Yield to Maturity as of 10/31/2023

9.47%

30-Day Standardized Yield 1 as of 11/30/2023  

  Subsidized2 Un-Subsidized3
w/o sales charge 7.48% 7.48%

In absence of the fee waiver, yields shown would have been lower. Yields for other share classes will vary.

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 6.52% 5.50% -0.16% 2.64% 3.61% 5.81%
Lipper Category Avg. High Yield Funds - - - - - -
ICE BofA U.S. High Yield Constrained Index 9.50% 8.69% 1.46% 4.00% 4.20% 6.10%
w/ sales charge 4.14% 3.17% -0.92% 2.18% 3.37% 5.71%

Performance data for the Lipper Category Average and for the Index is shown as soon as it becomes available.

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

YTD 1-YR 3-YR 5-YR 10-YR Since Inception 12/31/1998
w/o sales charge 3.40% 7.22% 0.47% 1.26% 3.62% 5.72%
Lipper Category Avg. High Yield Funds 5.24% 9.40% 1.63% 2.44% 3.38% -
ICE BofA U.S. High Yield Constrained Index 6.03% 10.28% 1.85% 2.80% 4.17% 6.00%
w/ sales charge 1.09% 4.76% -0.28% 0.81% 3.38% 5.63%

Fund Expense Ratio :

Gross 0.90%

Net 0.90%

Returns with sales charges reflect a maximum sales charge of 2.25%.

The performance quoted represents past performance, which is no indication of future results. Current performance may be higher or lower than the performance data quoted. Returns shown include the reinvestment of all distributions. Returns shown at net asset value do not reflect the current maximum sales charge, had the sales charge been included, returns would have been lower. The investment return and principal value of an investment will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than the original cost. Therefore, there can be no assurance for future results.

Year Fund Returns ICE BofA U.S. High Yield Constrained Index
2022 -13.75% -11.16%
2021 6.15% 5.35%
2020 4.49% 6.07%
2019 15.07% 14.41%
2018 -5.15% -2.27%
2017 8.50% 7.48%
2016 15.84% 17.49%
2015 -2.26% -4.61%
2014 3.46% 2.51%
2013 9.69% 7.41%
2012 16.50% -
2011 3.15% -
2010 14.31% -
2009 50.51% -
2008 -23.42% -
2007 2.43% -
2006 9.94% -
2005 1.15% -
2004 10.42% -
2003 21.59% -
Year Q1 Q2 Q3 Q4 Yearly Returns
2023 2.69% 1.15% -0.44% - 7.32%
2022 -5.43% -10.72% -1.48% 3.69% -13.75%
2021 1.73% 3.11% 0.63% 0.57% 6.15%
2020 -16.65% 10.72% 5.69% 7.13% 4.49%
2019 7.50% 3.77% 0.28% 2.86% 15.07%
2018 -1.07% -0.04% 2.54% -6.47% -5.15%
2017 2.82% 1.98% 2.45% 1.00% 8.50%
2016 2.01% 5.52% 5.46% 2.05% 15.84%
2015 3.05% 0.86% -4.23% -1.81% -2.26%
2014 2.92% 3.38% -1.83% -0.95% 3.46%
2013 3.97% -1.03% 2.51% 3.99% 9.69%
2012 6.63% 0.36% 5.06% 3.61% 16.50%
2011 3.82% 1.07% -7.02% 5.73% 3.15%
2010 4.93% -0.92% 6.33% 3.40% 14.31%
2009 5.95% 17.32% 14.23% 6.01% 50.51%
2008 -3.43% 1.99% -7.81% -15.68% -23.42%
2007 2.98% 0.17% 0.48% -1.17% 2.43%
2006 2.57% 0.01% 2.80% 4.27% 9.94%
2005 -1.74% 1.49% 0.87% 0.56% 1.15%
2004 1.07% -0.32% 4.34% 5.04% 10.42%
2003 4.06% 8.25% 2.40% 5.41% 21.59%
2002 1.51% -3.59% -3.78% 6.10% -0.10%
2001 5.14% -1.67% -3.99% 6.15% 5.36%
2000 -1.66% 0.99% 0.31% -2.65% -3.01%
1999 3.43% -0.11% -0.81% 3.99% 6.57%
1998 - - - - 0.80%

Performance is shown for each quarter and each calendar year. Past performance is no guarantee of future results.

Growth of $10,000 as of 11/30/2023

The chart begins on the Fund's inception date of 12/31/1998.

Based on a hypothetical Class A share investment of $10,000 on 12/31/1998 without sales charge and includes the reinvestment of all distributions.

 

NAV Historical Prices

Date Net Asset Value

Portfolio

Portfolio

Rating Assets
High Yield Bonds
Bank Loans
Investment Grade Bonds
Equity
Convertibles
Other
Cash

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Allocations are reported as of the date a security transaction is initiated; however, certain transactions may not settle until several days later. Accordingly, cash may appear as a negative allocation as a result of unsettled transactions.

Rating Assets
Less than 1 year
1-3 years
3-5 years
5-7 years
7-10 years
Greater than 10 years

The Fund's portfolio is actively managed and is subject to change. "Other" may include municipal bonds and non-index holdings.

Credit Quality Distribution as of 10/31/2023

Rating Assets
BBB
BB
B
<B
Not Rated

Ratings (other than U.S. Treasury securities or securities issued or backed by U.S. agencies) provided by Standard & Poor's, Moody's, and Fitch. For certain securities that are not rated by any of these three agencies, credit ratings from other agencies may be used. Where the rating agencies rate a security differently, Lord Abbett uses the average rating based on numeric values assigned to each rating. Ratings range from AAA (highest) to D (lowest). Bonds rated BBB or above are considered investment grade. Credit ratings BB and below are lower-rated securities (junk bonds). High-yielding, non-investment-grade bonds (junk bonds) involve higher risks than investment-grade bonds. Adverse conditions may affect the issuer's ability to pay interest and principal on these securities. A portion of the portfolio's securities may not be rated. Breakdown is not an S&P credit rating or an opinion of S&P as to the creditworthiness of such portfolio. Ratings apply to the credit worthiness of the issuers of the underlying securities and not the fund or its shares. Ratings may be subject to change.

Portfolio Positioning as of 09/30/2023

  • The Fund continued to be focused on higher carry, shorter duration securities. High yield spreads have grinded tighter throughout the year, finishing slightly above 400 bps in September, which has helped offset the effects of rising bond yields in the asset class. However, with declining recessionary concerns helping to compress spreads to relatively tight levels, our primary focus has shifted towards identifying higher carry opportunities within the high yield universe. We continue to see value in the new issue high yield market as a strong source of carry given higher coupons and continue to actively participate in select primary issues. We added to the Fund’s Single-B and CCC credit exposure throughout the period, which we view as offering attractive yields to support this carry trade and as macroeconomic data in the U.S. has been mostly positive. We have monetized positions in BBs as a source of funds for these trades, targeting bonds with tight valuations or offering low coupons. We also continue to prioritize sufficient liquidity given market uncertainty.
  • We remain constructive on the Energy and Basic Industry sectors. The Energy sector continued to exhibit defensive characteristics, particularly as the high yield energy index trades at tighter spreads than the overall high yield market. We continue to view Energy as a much more defensive sector than in prior periods given healthy balance sheets, reduced capital spending, and an increased focus on free cash flow. Within Basic Industry, we continue to be constructive in the Metals/Mining, Chemicals, and Steel subsectors due to relatively resilient commodity prices. We believe these issuers have better upside potential given the recent outperformance of cyclical parts of the high yield space. While the Fund maintained an underweight in sectors like Media, we selectively covered this underweight as performance improved, and recession outlooks moderated.
  • The Fund increased its allocation to out-of-index sectors. We generally believe that select exposures to these sectors can offer attractive risk-reward opportunities, potential portfolio diversification benefits, and avenues for liquidity. The Fund increased its modest allocation to bank loans throughout the quarter. Given the teams focus on carry, we view the bank loan asset class as an attractive source of income with a limited duration profile. While the Fund has the flexibility to toggle allocations to off-benchmark asset classes, we maintained the majority of exposure in traditional high yield corporate bonds.
  • Looking forward, we believe that high yield bonds continue to provide investors an opportunity to capture attractive carry despite the continued rise in interest rates and their potential effects on credit metrics. High yield bonds have performed well throughout 2023, and we maintain a broadly constructive outlook on the asset class due to several reasons. U.S. high yield issuers overall continue to boast much stronger balance sheets in aggregate than at the start of prior slowdowns. For example, leverage is close to its lowest level in the post financial crisis period, and interest coverage metrics are only slightly below record highs. This high yield index also remains around its highest quality in recent years, with almost 50% of the index rated BB. The asset class also has meaningful runway with respect to maturities with only 13% of the market set to mature through 2025, with issuers having reduced this amount relative to start of year levels through proactive refinancing. Additionally, starting yields for the high yield index are well above 8%, which has historically translated into strong forward returns across market environments. While we continue to monitor for signs of rising credit stress in the sector, resiliency, economic momentum, and the credit trends noted above leave us comfortable with our current exposures across the ratings spectrum, including select CCCs.

Portfolio Details as of 10/31/2023

Total Net Assets
$3.80 B
Average Effective Duration
3.55 Years
Average Maturity
5.2 Years
Number of Issues
669
Average Yield to Maturity
9.47%

To view definitions for the above Portfolio Details, Click here.

Yield to maturity (YTM) represents the expected total return on a bond (expressed as an annualized rate) based on the bond’s expected future cash flows, including coupon payments over the life of the bond and the bond’s principal value received at maturity.

Average Maturity - The length of time until the average security in a portfolio will mature or be redeemed by its issuer in proportion to its dollar value. Indicating a portfolio’s sensitivity to general market interest rate changes, a longer average maturity implies greater relative portfolio volatility.

Average Effective Duration - The change in the value of a fixed income security that will result from a 1% change in interest rates, taking into account anticipated cash flow fluctuations from mortgage prepayments, puts, adjustable coupons, and potential call dates. Duration is expressed as a number of years, and generally, the larger a duration, the greater the interest-rate risk or reward for a portfolio’s underlying bond prices. Where applicable, certain investments, such as common or preferred stock, convertible bonds and convertible preferred stock, ETFs, ADRs, and CPI swaps and related futures, are excluded from these calculations.

Holding Coupon Maturity Assets
CCO Holdings LLC / CCO Holdings Capital Corp 4.750% 03/01/2030 0.8%
CCO Holdings LLC / CCO Holdings Capital Corp 4.500% 08/15/2030 0.7%
CCO Holdings LLC / CCO Holdings Capital Corp 5.000% 02/01/2028 0.7%
Altice France SA/France 5.125% 07/15/2029 0.6%
Ford Motor Credit Co LLC 2.900% 02/10/2029 0.6%
Ford Motor Credit Co LLC 4.000% 11/13/2030 0.5%
Cloud Software Group Inc 6.500% 03/31/2029 0.4%
Bombardier Inc 6.000% 02/15/2028 0.4%
DISH Network Corp 11.750% 11/15/2027 0.4%
Fortress Transportation and Infrastructure Investors LLC 5.500% 05/01/2028 0.4%
% of Total Assets 5.5%
Holding Coupon Maturity Assets
CCO Holdings LLC / CCO Holdings Capital Corp4.750% 03/01/20300.8%
CCO Holdings LLC / CCO Holdings Capital Corp4.500% 08/15/20300.7%
CCO Holdings LLC / CCO Holdings Capital Corp5.000% 02/01/20280.7%
Altice France SA/France5.125% 07/15/20290.6%
Ford Motor Credit Co LLC2.900% 02/10/20290.6%
Ford Motor Credit Co LLC4.000% 11/13/20300.5%
Cloud Software Group Inc6.500% 03/31/20290.4%
Bombardier Inc6.000% 02/15/20280.4%
DISH Network Corp11.750% 11/15/20270.4%
Fortress Transportation and Infrastructure Investors LLC5.500% 05/01/20280.4%
Cloud Software Group Inc9.000% 09/30/20290.4%
Gulfport Energy Corp8.000% 05/17/20260.4%
Vermilion Energy Inc6.875% 05/01/20300.4%
Univision Communications Inc7.375% 06/30/20300.4%
Crescent Energy Finance LLC7.250% 05/01/20260.4%
Allied Universal Holdco LLC/Allied Universal Finance Corp/Atlas Luxco 4 Sarl4.625% 06/01/20280.4%
Matador Resources Co5.875% 09/15/20260.4%
Oceaneering International Inc6.000% 02/01/20280.4%
Vistra Operations Co LLC7.750% 10/15/20310.4%
Vital Energy Inc10.125% 01/15/20280.4%
MGM China Holdings Ltd5.875% 05/15/20260.3%
SunCoke Energy Inc4.875% 06/30/20290.3%
Precision Drilling Corp6.875% 01/15/20290.3%
Hecla Mining Co7.250% 02/15/20280.3%
Virgin Media Secured Finance PLC5.500% 05/15/20290.3%
Baytex Energy Corp8.750% 04/01/20270.3%
Frontier Communications Holdings LLC6.000% 01/15/20300.3%
Rockcliff Energy II LLC5.500% 10/15/20290.3%
Service Properties Trust7.500% 09/15/20250.3%
Genting New York LLC / GENNY Capital Inc3.300% 02/15/20260.3%
Goodyear Tire & Rubber Co/The5.000% 07/15/20290.3%
Carnival Corp5.750% 03/01/20270.3%
Medline Borrower LP3.875% 04/01/20290.3%
Frontier Communications Holdings LLC5.875% 10/15/20270.3%
Berry Petroleum Co LLC7.000% 02/15/20260.3%
M/I Homes Inc4.950% 02/01/20280.3%
Callon Petroleum Co8.000% 08/01/20280.3%
Midwest Gaming Borrower LLC / Midwest Gaming Finance Corp4.875% 05/01/20290.3%
American Airlines Inc7.250% 02/15/20280.3%
Inter Media and Communication SpA6.750% 02/09/20270.3%
DaVita Inc4.625% 06/01/20300.3%
Loarre Investments Sarl6.500% 05/15/20290.3%
AG TTMT Escrow Issuer LLC8.625% 09/30/20270.3%
PetSmart Inc / PetSmart Finance Corp4.750% 02/15/20280.3%
Emerald Debt Merger Sub LLC6.625% 12/15/20300.3%
Viking Cruises Ltd9.125% 07/15/20310.3%
Taseko Mines Ltd7.000% 02/15/20260.3%
Ford Motor Credit Co LLC7.200% 06/10/20300.3%
Rain Carbon Inc12.250% 09/01/20290.3%
BARCLAYS CAPITAL0.010% 11/01/20230.3%
CHS/Community Health Systems Inc5.250% 05/15/20300.3%
Catalent Pharma Solutions Inc3.500% 04/01/20300.3%
Alta Equipment Group Inc5.625% 04/15/20260.3%
Smyrna Ready Mix Concrete LLC6.000% 11/01/20280.3%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc4.125% 08/15/20260.3%
Allied Universal Holdco LLC / Allied Universal Finance Corp9.750% 07/15/20270.3%
Coronado Finance Pty Ltd10.750% 05/15/20260.3%
FMG Resources August 2006 Pty Ltd6.125% 04/15/20320.3%
PennyMac Financial Services Inc5.750% 09/15/20310.3%
Gap Inc/The3.875% 10/01/20310.3%
Wynn Macau Ltd5.500% 10/01/20270.3%
Triumph Group Inc9.000% 03/15/20280.3%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 04/15/20280.3%
Ford Motor Co3.250% 02/12/20320.3%
Ardonagh Midco 2 PLC11.500% 01/15/20270.3%
Tenet Healthcare Corp6.125% 10/01/20280.3%
Howard Hughes Corp/The5.375% 08/01/20280.3%
Air Canada3.875% 08/15/20260.3%
Synovus Financial Corp5.900% 02/07/20290.3%
Permian Resources Operating LLC5.375% 01/15/20260.3%
MEG Energy Corp5.875% 02/01/20290.3%
TerraForm Power Operating LLC4.750% 01/15/20300.3%
Builders FirstSource Inc6.375% 06/15/20320.3%
Vistra Operations Co LLC4.375% 05/01/20290.3%
Wynn Las Vegas LLC / Wynn Las Vegas Capital Corp5.250% 05/15/20270.3%
Encino Acquisition Partners Holdings LLC8.500% 05/01/20280.3%
Virgin Media Finance PLC5.000% 07/15/20300.3%
Royal Caribbean Cruises Ltd7.250% 01/15/20300.3%
Iron Mountain Inc5.625% 07/15/20320.3%
DPL Inc4.350% 04/15/20290.3%
Lindblad Expeditions LLC6.750% 02/15/20270.3%
Leeward Renewable Energy Operations LLC4.250% 07/01/20290.2%
TransDigm Inc5.500% 11/15/20270.2%
Hilcorp Energy I LP / Hilcorp Finance Co6.000% 02/01/20310.2%
NextEra Energy Operating Partners LP4.500% 09/15/20270.2%
Chobani LLC / Chobani Finance Corp Inc4.625% 11/15/20280.2%
Delek Logistics Partners LP / Delek Logistics Finance Corp7.125% 06/01/20280.2%
SPX FLOW Inc8.750% 04/01/20300.2%
IHO Verwaltungs GmbH8.750% 05/15/20280.2%
Bath & Body Works Inc6.625% 10/01/20300.2%
Aethon United BR LP / Aethon United Finance Corp8.250% 02/15/20260.2%
Calpine Corp5.000% 02/01/20310.2%
SeaWorld Parks & Entertainment Inc5.250% 08/15/20290.2%
Nine Energy Service Inc13.000% 02/01/20280.2%
Gen Digital Inc7.125% 09/30/20300.2%
Mohegan Tribal Gaming Authority8.000% 02/01/20260.2%
Altice France SA/France8.125% 02/01/20270.2%
United States Steel Corp6.650% 06/01/20370.2%
EquipmentShare.com Inc9.000% 05/15/20280.2%
Griffon Corp5.750% 03/01/20280.2%
Royal Caribbean Cruises Ltd4.250% 07/01/20260.2%
IRB Holding Corp8.424% 12/15/20270.2%
Ford Motor Co6.100% 08/19/20320.2%
Carnival Holdings Bermuda Ltd10.375% 05/01/20280.2%
AMC Entertainment Holdings Inc7.500% 02/15/20290.2%
Service Logic Acquisition Inc9.439% 10/29/20270.2%
Ashton Woods USA LLC / Ashton Woods Finance Co4.625% 04/01/20300.2%
Earthstone Energy Holdings LLC9.875% 07/15/20310.2%
Olympus Water US Holding Corp9.750% 11/15/20280.2%
Alloy Finco Ltd0.500% 03/06/20250.2%
Venture Global LNG Inc9.500% 02/01/20290.2%
Allwyn Entertainment Financing UK PLC7.875% 04/30/20290.2%
AG Issuer LLC6.250% 03/01/20280.2%
LSB Industries Inc6.250% 10/15/20280.2%
Port of Newcastle Investments Financing Pty Ltd5.900% 11/24/20310.2%
Arsenal AIC Parent LLC8.000% 10/01/20300.2%
CNX Resources Corp6.000% 01/15/20290.2%
Comstock Resources Inc5.875% 01/15/20300.2%
Popular Inc7.250% 03/13/20280.2%
OneMain Finance Corp9.000% 01/15/20290.2%
VistaJet Malta Finance PLC / Vista Management Holding Inc7.875% 05/01/20270.2%
PG&E Corp5.000% 07/01/20280.2%
Chart Industries Inc7.500% 01/01/20300.2%
Transocean Inc7.500% 04/15/20310.2%
Melco Resorts Finance Ltd5.375% 12/04/20290.2%
Weatherford International Ltd8.625% 04/30/20300.2%
EQM Midstream Partners LP7.500% 06/01/20300.2%
Transocean Inc6.800% 03/15/20380.2%
Venture Global LNG Inc8.375% 06/01/20310.2%
Southwestern Energy Co8.375% 09/15/20280.2%
Nexstar Media Inc4.750% 11/01/20280.2%
Boyne USA Inc4.750% 05/15/20290.2%
Venture Global LNG Inc8.125% 06/01/20280.2%
Shelf Drilling Holdings Ltd9.625% 04/15/20290.2%
B&G Foods Inc8.000% 09/15/20280.2%
Hawaiian Brand Intellectual Property Ltd / HawaiianMiles Loyalty Ltd5.750% 01/20/20260.2%
Bausch & Lomb Escrow Corp8.375% 10/01/20280.2%
Capstone Borrower Inc8.000% 06/15/20300.2%
Stonegate Pub Co Financing 2019 PLC8.250% 07/31/20250.2%
Talen Energy Supply LLC8.625% 06/01/20300.2%
NCL Corp Ltd5.875% 02/15/20270.2%
LifePoint Health Inc9.875% 08/15/20300.2%
Resorts World Las Vegas LLC / RWLV Capital Inc4.625% 04/06/20310.2%
Calderys Financing LLC11.250% 06/01/20280.2%
Coeur Mining Inc5.125% 02/15/20290.2%
Atkore Inc4.250% 06/01/20310.2%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC3.500% 03/15/20290.2%
Standard Industries Inc/NJ3.375% 01/15/20310.2%
Carnival Corp4.000% 08/01/20280.2%
Maxim Crane Works Holdings Capital LLC11.500% 09/01/20280.2%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc4.750% 04/30/20270.2%
CDI Escrow Issuer Inc5.750% 04/01/20300.2%
Spirit AeroSystems Inc9.375% 11/30/20290.2%
Southwestern Energy Co5.375% 02/01/20290.2%
USA Compression Partners LP / USA Compression Finance Corp6.875% 09/01/20270.2%
Limak Iskenderun Uluslararasi Liman Isletmeciligi AS9.500% 07/10/20360.2%
Compass Minerals International Inc6.750% 12/01/20270.2%
Intesa Sanpaolo SpA4.198% 06/01/20320.2%
NESCO Holdings II Inc5.500% 04/15/20290.2%
Wynn Resorts Finance LLC / Wynn Resorts Capital Corp7.125% 02/15/20310.2%
Tenneco Inc8.000% 11/17/20280.2%
Coinbase Global Inc3.375% 10/01/20280.2%
CrownRock LP / CrownRock Finance Inc5.000% 05/01/20290.2%
FMG Resources August 2006 Pty Ltd4.375% 04/01/20310.2%
TransDigm Inc4.625% 01/15/20290.2%
CNX Midstream Partners LP4.750% 04/15/20300.2%
Benteler International AG10.500% 05/15/20280.2%
SK Invictus Intermediate II Sarl5.000% 10/30/20290.2%
CSC Holdings LLC11.250% 05/15/20280.2%
Jefferson Capital Holdings LLC6.000% 08/15/20260.2%
Vital Energy Inc7.750% 07/31/20290.2%
Northriver Midstream Finance LP5.625% 02/15/20260.2%
Evergreen Acqco 1 LP / TVI Inc9.750% 04/26/20280.2%
Valaris Ltd8.375% 04/30/20300.2%
Madison IAQ LLC5.875% 06/30/20290.2%
Kosmos Energy Ltd7.500% 03/01/20280.2%
TerraForm Power Operating LLC5.000% 01/31/20280.2%
SM Energy Co6.625% 01/15/20270.2%
VF Ukraine PAT via VFU Funding PLC6.200% 02/11/20250.2%
Ardagh Metal Packaging Finance USA LLC / Ardagh Metal Packaging Finance PLC6.000% 06/15/20270.2%
SNF Group SACA3.375% 03/15/20300.2%
Sedgwick Claims Management Services Inc9.074% 02/24/20280.2%
Grinding Media Inc9.684% 10/12/20280.2%
Resideo Funding Inc4.000% 09/01/20290.2%
Empire Resorts Inc7.750% 11/01/20260.2%
Petroleos Mexicanos10.000% 02/07/20330.2%
Pattern Energy Operations LP / Pattern Energy Operations Inc4.500% 08/15/20280.2%
CVR Partners LP / CVR Nitrogen Finance Corp6.125% 06/15/20280.2%
Electron Bidco Inc8.439% 11/01/20280.2%
NCL Corp Ltd5.875% 03/15/20260.2%
Aretec Escrow Issuer 2 Inc10.000% 08/15/20300.2%
Antero Midstream Partners LP / Antero Midstream Finance Corp5.375% 06/15/20290.2%
ZF North America Capital Inc7.125% 04/14/20300.2%
Eco Material Technologies Inc7.875% 01/31/20270.2%
Carpenter Technology Corp7.625% 03/15/20300.2%
Armor Holdco Inc8.500% 11/15/20290.2%
ATI Inc5.125% 10/01/20310.2%
VOC Escrow Ltd5.000% 02/15/20280.2%
Knife River Corp7.750% 05/01/20310.2%
CHS/Community Health Systems Inc6.125% 04/01/20300.2%
City Football Group Ltd8.453% 07/21/20280.2%
Heartland Dental LLC / Heartland Dental Finance Corp10.500% 04/30/20280.2%
JELD-WEN Inc4.875% 12/15/20270.2%
LABL Inc6.750% 07/15/20260.2%
Buckeye Partners LP4.125% 12/01/20270.2%
Gray Escrow II Inc5.375% 11/15/20310.2%
ATI Inc7.250% 08/15/20300.2%
Range Resources Corp4.750% 02/15/20300.2%
Mineral Resources Ltd8.500% 05/01/20300.2%
Valvoline Inc3.625% 06/15/20310.2%
GIBSON BRANDS PRIVATE EQUITY0.000% -0.2%
PBF Holding Co LLC / PBF Finance Corp6.000% 02/15/20280.2%
DT Midstream Inc4.125% 06/15/20290.2%
Iliad Holding SASU7.000% 10/15/20280.2%
Compass Power Generation LLC9.688% 04/14/20290.2%
PROJECT ALPHA INTRMDT HLDG INC10.075% 10/28/20300.2%
Brand Industrial Services Inc10.375% 08/01/20300.2%
Seagate HDD Cayman8.500% 07/15/20310.2%
PARKWAY GENERATION LLC10.395% 02/18/20290.2%
CHS/Community Health Systems Inc4.750% 02/15/20310.2%
CNX Resources Corp7.375% 01/15/20310.2%
Lumen Technologies Inc4.000% 02/15/20270.2%
Q-Park Holding I BV2.000% 03/01/20270.2%
Jaguar Land Rover Automotive PLC4.500% 10/01/20270.2%
Adient Global Holdings Ltd7.000% 04/15/20280.2%
Kinetik Holdings LP5.875% 06/15/20300.2%
CSC Holdings LLC7.500% 04/01/20280.2%
Caesars Entertainment Inc7.000% 02/15/20300.2%
MC Brazil Downstream Trading SARL7.250% 06/30/20310.2%
PetSmart Inc / PetSmart Finance Corp7.750% 02/15/20290.2%
Forestar Group Inc3.850% 05/15/20260.2%
Mauser Packaging Solutions Holding Co9.250% 04/15/20270.2%
Navient Corp4.875% 03/15/20280.2%
AA Bond Co Ltd6.500% 01/31/20260.2%
Adient Global Holdings Ltd8.250% 04/15/20310.2%
Hunt Cos Inc5.250% 04/15/20290.2%
Minerals Technologies Inc5.000% 07/01/20280.2%
Red Planet Borrower LLC9.174% 10/02/20280.2%
VZ Secured Financing BV5.000% 01/15/20320.2%
Garda World Security Corp7.750% 02/15/20280.2%
Lamb Weston Holdings Inc4.125% 01/31/20300.2%
BellRing Brands Inc7.000% 03/15/20300.2%
MHP Lux SA6.250% 09/19/20290.2%
Seaspan Corp5.500% 08/01/20290.2%
Molina Healthcare Inc3.875% 11/15/20300.2%
Zelis Payments Buyer Inc8.939% 09/30/20260.2%
New Enterprise Stone & Lime Co Inc9.750% 07/15/20280.2%
Kernel Holding SA6.500% 10/17/20240.2%
GrafTech Global Enterprises Inc9.875% 12/15/20280.2%
American Airlines Inc/AAdvantage Loyalty IP Ltd5.750% 04/20/20290.2%
CSI Compressco LP / CSI Compressco Finance Inc7.500% 04/01/20250.2%
Jacobs Entertainment Inc6.750% 02/15/20290.2%
Navient Corp9.375% 07/25/20300.2%
Ingevity Corp3.875% 11/01/20280.2%
WaterBridge Midstream Operating LLC11.390% 06/22/20260.2%
United Airlines Inc4.375% 04/15/20260.2%
Vistra Corp7.000% 06/15/21720.2%
RHP Hotel Properties LP / RHP Finance Corp7.250% 07/15/20280.2%
Pinnacle Bidco PLC10.000% 10/11/20280.2%
Texas Capital Bank NA5.250% 01/31/20260.2%
Allison Transmission Inc3.750% 01/30/20310.2%
Tenet Healthcare Corp6.125% 06/15/20300.2%
TransAlta Corp7.750% 11/15/20290.2%
NCL Corp Ltd8.125% 01/15/20290.2%
Helix Gen Funding LLC10.074% 12/31/20270.2%
Civitas Resources Inc8.625% 11/01/20300.2%
Range Resources Corp8.250% 01/15/20290.2%
Sitio Royalties Operating Partnership LP / Sitio Finance Corp7.875% 11/01/20280.2%
Ascent Resources Utica Holdings LLC / ARU Finance Corp5.875% 06/30/20290.2%
CSC Holdings LLC6.500% 02/01/20290.2%
Park Intermediate Holdings LLC / PK Domestic Property LLC / PK Finance Co-Issuer4.875% 05/15/20290.2%
Belo Corp7.250% 09/15/20270.2%
Pike Corp5.500% 09/01/20280.2%
ISOLVED INC9.484% 10/14/20300.2%
CSC Holdings LLC4.125% 12/01/20300.2%
Madison IAQ LLC8.703% 06/21/20280.2%
Weekley Homes LLC / Weekley Finance Corp4.875% 09/15/20280.2%
Permian Resources Operating LLC6.875% 04/01/20270.2%
McAfee Corp7.375% 02/15/20300.2%
Douglas GmbH6.000% 04/08/20260.2%
Central Parent LLC / CDK Global II LLC / CDK Financing Co Inc8.000% 06/15/20290.1%
Carriage Purchaser Inc7.875% 10/15/20290.1%
Gatwick Airport Finance PLC4.375% 04/07/20260.1%
Welltec International ApS8.250% 10/15/20260.1%
ACBL HLDG CORP0.000% -0.1%
YPF Energia Electrica SA10.000% 07/25/20260.1%
Civitas Resources Inc8.750% 07/01/20310.1%
SILK BIDCO AS10.451% 02/28/20270.1%
Jones Deslauriers Insurance Management Inc8.500% 03/15/20300.1%
Hess Midstream Operations LP5.125% 06/15/20280.1%
CITGO Petroleum Corp8.375% 01/15/20290.1%
Civitas Resources Inc8.375% 07/01/20280.1%
Sri Lanka Government International Bond5.875% 07/25/20220.1%
AmeriTex HoldCo Intermediate LLC10.250% 10/15/20280.1%
Noble Finance II LLC8.000% 04/15/20300.1%
TK Elevator Midco GmbH4.375% 07/15/20270.1%
Viasat Inc5.625% 09/15/20250.1%
ATS Corp4.125% 12/15/20280.1%
PRA Group Inc8.375% 02/01/20280.1%
Perrigo Finance Unlimited Co4.650% 06/15/20300.1%
Royal Caribbean Cruises Ltd11.625% 08/15/20270.1%
Century Communities Inc3.875% 08/15/20290.1%
APi Group DE Inc4.750% 10/15/20290.1%
CPV Shore Holdings LLC9.189% 12/29/20250.1%
PGT Innovations Inc4.375% 10/01/20290.1%
RegionalCare Hospital Partners Holdings Inc / LifePoint Health Inc9.750% 12/01/20260.1%
LSF11 A5 HoldCo LLC6.625% 10/15/20290.1%
LBM Acquisition LLC6.250% 01/15/20290.1%
TK Elevator US Newco Inc5.250% 07/15/20270.1%
Rand Parent LLC8.500% 02/15/20300.1%
Borr IHC Ltd / Borr Finance LLC10.000% 11/15/20280.1%
Comstock Resources Inc6.750% 03/01/20290.1%
Mineral Resources Ltd8.000% 11/01/20270.1%
Pampa Energia SA7.500% 01/24/20270.1%
Callon Petroleum Co7.500% 06/15/20300.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc10.750% 06/01/20280.1%
Tank Holding Corp11.174% 03/31/20280.1%
Albion Financing 2 Sarl8.750% 04/15/20270.1%
First Quantum Minerals Ltd8.625% 06/01/20310.1%
GPS Hospitality Holding Co LLC / GPS Finco Inc7.000% 08/15/20280.1%
Dycom Industries Inc4.500% 04/15/20290.1%
Calpine Corp4.625% 02/01/20290.1%
EFS Cogen Holdings I LLC9.160% 10/01/20270.1%
DISH DBS Corp5.875% 11/15/20240.1%
MIWD Holdco II LLC / MIWD Finance Corp5.500% 02/01/20300.1%
Windsor Holdings III LLC8.500% 06/15/20300.1%
Elastic NV4.125% 07/15/20290.1%
Oceaneering International Inc0.000% -0.1%
Frontier Communications Holdings LLC8.750% 05/15/20300.1%
WE Soda Investments Holding PLC9.500% 10/06/20280.1%
NMG Holding Co Inc / Neiman Marcus Group LLC7.125% 04/01/20260.1%
Tri Pointe Homes Inc5.250% 06/01/20270.1%
ASP Unifrax Holdings Inc5.250% 09/30/20280.1%
Amsted Industries Inc4.625% 05/15/20300.1%
Northwest Fiber LLC / Northwest Fiber Finance Sub Inc6.000% 02/15/20280.1%
Shake Shack Inc0.000% -0.1%
Synaptics Inc4.000% 06/15/20290.1%
Twilio Inc3.625% 03/15/20290.1%
ROBLOX Corp3.875% 05/01/20300.1%
FOGO DE CHAO INC10.136% 09/30/20300.1%
Kontoor Brands Inc4.125% 11/15/20290.1%
Cinemark USA Inc5.875% 03/15/20260.1%
Grifols SA4.750% 10/15/20280.1%
Novelis Corp3.875% 08/15/20310.1%
Buckeye Partners LP9.694% 01/22/20780.1%
Summit Materials LLC / Summit Materials Finance Corp5.250% 01/15/20290.1%
LifePoint Health Inc11.000% 10/15/20300.1%
Legends Hospitality Holding Co LLC / Legends Hospitality Co-Issuer Inc5.000% 02/01/20260.1%
Arko Corp5.125% 11/15/20290.1%
Boise Cascade Co4.875% 07/01/20300.1%
Avis Budget Car Rental LLC / Avis Budget Finance Inc4.750% 04/01/20280.1%
Dornoch Debt Merger Sub Inc6.625% 10/15/20290.1%
Benteler International AG9.375% 05/15/20280.1%
US Foods Inc4.625% 06/01/20300.1%
Enstall Group BV10.402% 08/30/20280.1%
Juventus Football Club SpA3.375% 02/19/20240.1%
Atlantica Sustainable Infrastructure PLC4.125% 06/15/20280.1%
Arista Networks Inc0.000% -0.1%
Advance Auto Parts Inc3.500% 03/15/20320.1%
Hilton Domestic Operating Co Inc4.875% 01/15/20300.1%
Sotheby's7.375% 10/15/20270.1%
Bloomin' Brands Inc / OSI Restaurant Partners LLC5.125% 04/15/20290.1%
Millennium Escrow Corp6.625% 08/01/20260.1%
Baytex Energy Corp8.500% 04/30/20300.1%
Macy's Retail Holdings LLC5.875% 04/01/20290.1%
Nordstrom Inc4.375% 04/01/20300.1%
Lumen Technologies Inc7.689% 03/15/20270.1%
Pactiv Evergreen Group Holdings Inc8.689% 09/24/20280.1%
PBF Holding Co LLC / PBF Finance Corp7.875% 09/15/20300.1%
Synopsys Inc0.000% -0.1%
Castlelake Aviation One DAC8.421% 10/22/20270.1%
Mueller Water Products Inc4.000% 06/15/20290.1%
Transocean Inc7.500% 01/15/20260.1%
Enviri Corp5.750% 07/31/20270.1%
Forward Air Corp9.500% 10/15/20310.1%
MGM Resorts International4.750% 10/15/20280.1%
180 Medical Inc3.875% 10/15/20290.1%
LABL Inc9.500% 11/01/20280.1%
Ritchie Bros Holdings Inc7.750% 03/15/20310.1%
Ahlstrom Holding 3 Oy4.875% 02/04/20280.1%
Imola Merger Corp4.750% 05/15/20290.1%
Mersin Uluslararasi Liman Isletmeciligi AS5.375% 11/15/20240.1%
United States Steel Corp6.875% 03/01/20290.1%
Stena International SA7.250% 02/15/20280.1%
Elanco Animal Health Inc6.650% 08/28/20280.1%
Park-Ohio Industries Inc6.625% 04/15/20270.1%
LCM Investments Holdings II LLC8.250% 08/01/20310.1%
Crescent Energy Finance LLC9.250% 02/15/20280.1%
BCPE Empire Holdings Inc7.625% 05/01/20270.1%
Jazz Securities DAC4.375% 01/15/20290.1%
USIC Holdings Inc11.939% 05/14/20290.1%
OneMain Finance Corp4.000% 09/15/20300.1%
Post Holdings Inc4.625% 04/15/20300.1%
SRS Distribution Inc6.000% 12/01/20290.1%
Cerdia Finanz GmbH10.500% 02/15/20270.1%
Seadrill Finance Ltd8.375% 08/01/20300.1%
AI Candelaria Spain SA7.500% 12/15/20280.1%
Studio City Co Ltd7.000% 02/15/20270.1%
TGP Holdings III LLC8.674% 06/29/20280.1%
LCM Investments Holdings II LLC4.875% 05/01/20290.1%
Nouryon USA LLC9.419% 04/03/20280.1%
CQP Holdco LP / BIP-V Chinook Holdco LLC5.500% 06/15/20310.1%
Hunt Oil Co of Peru LLC Sucursal Del Peru8.550% 09/18/20330.1%
Penn Entertainment Inc4.125% 07/01/20290.1%
Manhattan Associates Inc0.000% -0.1%
Motion Bondco DAC6.625% 11/15/20270.1%
ACProducts Holdings Inc6.375% 05/15/20290.1%
Warrior Met Coal Inc7.875% 12/01/20280.1%
SCIH Salt Holdings Inc4.875% 05/01/20280.1%
Williams Scotsman Inc4.625% 08/15/20280.1%
Tenet Healthcare Corp4.375% 01/15/20300.1%
AMN Healthcare Inc4.000% 04/15/20290.1%
Enerflex Ltd9.000% 10/15/20270.1%
Rocket Software Inc6.500% 02/15/20290.1%
Beacon Roofing Supply Inc4.125% 05/15/20290.1%
Wabash National Corp4.500% 10/15/20280.1%
Trident TPI Holdings Inc12.750% 12/31/20280.1%
Dream Finders Homes Inc8.250% 08/15/20280.1%
Frontier Communications Holdings LLC9.189% 10/08/20270.1%
Mauser Packaging Solutions Holding Co9.319% 08/14/20260.1%
American Axle & Manufacturing Inc5.000% 10/01/20290.1%
Fair Isaac Corp4.000% 06/15/20280.1%
Navient Corp5.500% 03/15/20290.1%
HAT Holdings I LLC / HAT Holdings II LLC3.375% 06/15/20260.1%
Aegea Finance Sarl6.750% 05/20/20290.1%
International Game Technology PLC5.250% 01/15/20290.1%
Trivium Packaging Finance BV5.500% 08/15/20260.1%
Amynta Agency Borrower Inc10.325% 02/28/20280.1%
Carnival Corp8.689% 10/18/20280.1%
TALEN ENERGY CORP0.000% -0.1%
McGraw-Hill Education Inc5.750% 08/01/20280.1%
Hughes Satellite Systems Corp6.625% 08/01/20260.1%
ArcelorMittal SA6.800% 11/29/20320.1%
Seagate HDD Cayman8.250% 12/15/20290.1%
SCIL IV LLC / SCIL USA Holdings LLC5.375% 11/01/20260.1%
Midcap Financial Issuer Trust6.500% 05/01/20280.1%
Live Nation Entertainment Inc4.750% 10/15/20270.1%
Texas Capital Bancshares Inc4.000% 05/06/20310.1%
Life Time Inc5.750% 01/15/20260.1%
Hudbay Minerals Inc4.500% 04/01/20260.1%
Jane Street Group / JSG Finance Inc4.500% 11/15/20290.1%
Project Boost Purchaser LLC0.000% 05/30/20260.1%
Endeavor Energy Resources LP / EER Finance Inc5.750% 01/30/20280.1%
WASH Multifamily Acquisition Inc5.750% 04/15/20260.1%
Post Holdings Inc4.500% 09/15/20310.1%
Zscaler Inc0.125% 07/01/20250.1%
Go Daddy Operating Co LLC / GD Finance Co Inc3.500% 03/01/20290.1%
Acadia Healthcare Co Inc5.000% 04/15/20290.1%
Real Hero Merger Sub 2 Inc6.250% 02/01/20290.1%
Methanex Corp5.250% 12/15/20290.1%
Sprouts Farmers Market Inc0.000% -0.1%
Royal Caribbean Cruises Ltd8.250% 01/15/20290.1%
Royal Caribbean Cruises Ltd9.250% 01/15/20290.1%
Station Casinos LLC4.625% 12/01/20310.1%
Tidewater Inc10.375% 07/03/20280.1%
NCR Atleos Escrow Corp9.500% 04/01/20290.1%
TEGNA Inc5.000% 09/15/20290.1%
UPC Broadband Finco BV4.875% 07/15/20310.1%
Clarios Global LP / Clarios US Finance Co6.750% 05/15/20280.1%
H&E Equipment Services Inc3.875% 12/15/20280.1%
Boxer Parent Co Inc10.939% 02/27/20260.1%
AMC Networks Inc4.750% 08/01/20250.1%
Marriott Ownership Resorts Inc4.500% 06/15/20290.1%
EQM Midstream Partners LP4.750% 01/15/20310.1%
Transocean Aquila Ltd8.000% 09/30/20280.1%
Pilgrim's Pride Corp4.250% 04/15/20310.1%
Manitowoc Co Inc/The9.000% 04/01/20260.1%
Rolls-Royce PLC5.750% 10/15/20270.1%
Diamond Foreign Asset Co / Diamond Finance LLC8.500% 10/01/20300.1%
Summer BC Holdco B SARL5.750% 10/31/20260.1%
Asbury Automotive Group Inc5.000% 02/15/20320.1%
Synchrony Financial7.250% 02/02/20330.1%
Sunoco LP / Sunoco Finance Corp7.000% 09/15/20280.1%
Vibrantz Technologies Inc9.000% 02/15/20300.1%
Clean Harbors Inc6.375% 02/01/20310.1%
Graphic Packaging International LLC3.500% 03/01/20290.1%
Cushman & Wakefield US Borrower LLC8.875% 09/01/20310.1%
Birkenstock Holding Plc0.000% -0.1%
Leviathan Bond Ltd6.500% 06/30/20270.1%
Market Bidco Finco PLC5.500% 11/04/20270.1%
Dave & Buster's Inc9.188% 06/29/20290.1%
Commercial Metals Co4.125% 01/15/20300.1%
Full House Resorts Inc8.250% 02/15/20280.1%
Advanced Drainage Systems Inc6.375% 06/15/20300.1%
NRG Energy Inc10.250% 09/15/21720.1%
Teekay Tankers Ltd0.000% -0.1%
Novafives SAS8.345% 06/15/20250.1%
Hudbay Minerals Inc6.125% 04/01/20290.1%
Spirit AeroSystems Inc4.600% 06/15/20280.1%
AthenaHealth Group Inc6.500% 02/15/20300.1%
Wyndham Hotels & Resorts Inc4.375% 08/15/20280.1%
Ctec II GmbH5.250% 02/15/20300.1%
Performance Food Group Inc4.250% 08/01/20290.1%
Trivium Packaging Finance BV8.500% 08/15/20270.1%
Churchill Downs Inc4.750% 01/15/20280.1%
HealthEquity Inc4.500% 10/01/20290.1%
Great Lakes Dredge & Dock Corp5.250% 06/01/20290.1%
Mauser Packaging Solutions Holding Co7.875% 08/15/20260.1%
Terex Corp5.000% 05/15/20290.1%
Metis Merger Sub LLC6.500% 05/15/20290.1%
CP Atlas Buyer Inc7.000% 12/01/20280.1%
Newell Brands Inc5.200% 04/01/20260.1%
TreeHouse Foods Inc4.000% 09/01/20280.1%
Central American Bottling Corp / CBC Bottling Holdco SL / Beliv Holdco SL5.250% 04/27/20290.1%
Alliant Holdings Intermediate LLC / Alliant Holdings Co-Issuer6.750% 10/15/20270.1%
Owens-Brockway Glass Container Inc6.625% 05/13/20270.1%
Gulfport Energy Corp0.000% -0.1%
Entegris Inc3.625% 05/01/20290.1%
Azul Secured Finance LLP11.930% 08/28/20280.1%
Watco Cos LLC / Watco Finance Corp6.500% 06/15/20270.1%
Bellis Finco PLC4.000% 02/16/20270.1%
Picard Bondco SA5.375% 07/01/20270.1%
Service Properties Trust5.250% 02/15/20260.1%
EQM Midstream Partners LP6.500% 07/01/20270.1%
Veritas US Inc / Veritas Bermuda Ltd7.500% 09/01/20250.1%
United Airlines Inc4.625% 04/15/20290.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc5.250% 08/15/20270.1%
EnLink Midstream LLC6.500% 09/01/20300.1%
Holly Energy Partners LP / Holly Energy Finance Corp6.375% 04/15/20270.1%
Arcosa Inc4.375% 04/15/20290.1%
Husky III Holding Ltd13.000% 02/15/20250.1%
Cava Group Inc0.000% -0.1%
Directv Financing LLC / Directv Financing Co-Obligor Inc5.875% 08/15/20270.1%
Presidio Holdings Inc8.250% 02/01/20280.1%
Iris Holding Inc10.232% 06/28/20280.1%
CCO Holdings LLC / CCO Holdings Capital Corp6.375% 09/01/20290.1%
White Cap Buyer LLC6.875% 10/15/20280.1%
GYP Holdings III Corp4.625% 05/01/20290.1%
Coherent Corp5.000% 12/15/20290.1%
Axalta Coating Systems LLC3.375% 02/15/20290.1%
Chesapeake Energy Corp6.750% 04/15/20290.1%
Jones Deslauriers Insurance Management Inc10.500% 12/15/20300.1%
Oscar AcquisitionCo LLC / Oscar Finance Inc9.500% 04/15/20300.1%
Pactiv Evergreen Group Issuer Inc/Pactiv Evergreen Group Issuer LLC4.000% 10/15/20270.1%
Iceland Bondco PLC10.875% 12/15/20270.1%
Sealed Air Corp/Sealed Air Corp US6.125% 02/01/20280.1%
Roller Bearing Co of America Inc4.375% 10/15/20290.1%
Michaels Cos Inc/The9.902% 04/15/20280.1%
Tronox Inc4.625% 03/15/20290.1%
SM Energy Co0.000% -0.1%
Azul Secured Finance LLP10.875% 05/28/20300.1%
HAT Holdings I LLC / HAT Holdings II LLC3.750% 09/15/20300.1%
Coty Inc/HFC Prestige Products Inc/HFC Prestige International US LLC4.750% 01/15/20290.1%
Builders FirstSource Inc4.250% 02/01/20320.1%
Goosehead Insurance Inc0.000% -0.1%
Crowdstrike Holdings Inc3.000% 02/15/20290.1%
Ingles Markets Inc4.000% 06/15/20310.1%
JFL-Tiger Acquisition Co Inc10.403% 10/17/20300.1%
Canacol Energy Ltd5.750% 11/24/20280.1%
Carnival Corp10.500% 06/01/20300.1%
Bukit Makmur Mandiri Utama PT7.750% 02/10/20260.1%
Ryan Specialty Holdings Inc0.000% -0.1%
BWX Technologies Inc4.125% 04/15/20290.1%
Moog Inc4.250% 12/15/20270.1%
Motion Finco Sarl7.375% 06/15/20300.1%
Punch Finance PLC6.125% 06/30/20260.1%
ZF North America Capital Inc6.875% 04/14/20280.1%
Talen Energy Corp0.000% -0.1%
Star Parent Inc9.000% 10/01/20300.1%
Universal Display Corp0.000% -0.1%
US 5YR NOTE (CBT) Dec230.000% 01/04/20240.1%
ON Semiconductor Corp3.875% 09/01/20280.1%
Parkland Corp5.875% 07/15/20270.1%
Option Care Health Inc4.375% 10/31/20290.1%
Ardagh Packaging Finance PLC / Ardagh Holdings USA Inc5.250% 04/30/20250.1%
UTEX INDUSTRIES0.000% -0.1%
New York Community Bancorp Inc5.900% 11/06/20280.1%
SCIH Salt Holdings Inc6.625% 05/01/20290.1%
APi Group DE Inc4.125% 07/15/20290.1%
Viking Cruises Ltd5.875% 09/15/20270.1%
Carnival Corp6.000% 05/01/20290.1%
Bristow Group Inc6.875% 03/01/20280.1%
NRG Energy Inc7.000% 03/15/20330.1%
Iceland Bondco PLC10.875% 12/15/20270.1%
EQM Midstream Partners LP7.500% 06/01/20270.1%
Sealed Air Corp6.875% 07/15/20330.1%
Aegea Finance Sarl9.000% 01/20/20310.1%
Viasat Inc7.500% 05/30/20310.1%
CLAIRES HOLDINGS0.000% -0.1%
FX USD/EUR 12/230.000% 12/13/20230.1%
Ford Motor Credit Co LLC7.350% 11/04/20270.1%
LABL Inc10.500% 07/15/20270.1%
NCL Corp Ltd8.375% 02/01/20280.1%
CHS/Community Health Systems Inc6.875% 04/15/20290.1%
Venture Global Calcasieu Pass LLC6.250% 01/15/20300.1%
Scripps Escrow II Inc5.375% 01/15/20310.1%
Matador Resources Co6.875% 04/15/20280.1%
Iron Mountain Inc7.000% 02/15/20290.1%
Kernel Holding SA6.750% 10/27/20270.1%
CEVA SANTE ANIMALE0.000% 11/01/20300.1%
Gray Television Inc7.000% 05/15/20270.1%
Vital Energy Inc9.750% 10/15/20300.1%
US ULTRA BOND CBT Dec230.000% 12/29/20230.1%
Trivium Packaging Finance BV7.531% 08/15/20260.1%
Park River Holdings Inc6.750% 08/01/20290.1%
NRG Energy Inc5.250% 06/15/20290.1%
FMG Resources August 2006 Pty Ltd5.875% 04/15/20300.1%
NRG Energy Inc5.750% 01/15/20280.1%
UC HOLDINGS INC.0.000% -0.1%
IHO Verwaltungs GmbH8.750% 05/15/20280.1%
Park River Holdings Inc5.625% 02/01/20290.1%
NSG Holdings LLC / NSG Holdings Inc7.750% 12/15/20250.0%
Travel + Leisure Co6.625% 07/31/20260.0%
BK LC Lux Finco1 Sarl5.250% 04/30/20290.0%
Macquarie Airfinance Holdings Ltd8.375% 05/01/20280.0%
Elwood Energy LLC8.159% 07/05/20260.0%
Sunac China Holdings Ltd5.950% 04/26/20240.0%
CPM Holdings Inc9.827% 09/28/20280.0%
eDreams ODIGEO SA5.500% 07/15/20270.0%
Civitas Resources Inc5.000% 10/15/20260.0%
VUE INTERNATIONAL BIDCO P L C6.130% 12/31/20270.0%
New Frontera Holdings LLC18.652% 07/28/20260.0%
Vista Outdoor Inc4.500% 03/15/20290.0%
Carrols Restaurant Group Inc5.875% 07/01/20290.0%
Realtruck Group Inc10.406% 01/31/20280.0%
US 10yr Ultra Fut Dec230.000% 12/29/20230.0%
ACBL HLDG CORP0.000% -0.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
Sunac China Holdings Ltd6.500% 01/10/20250.0%
Sizzling Platter LLC / Sizzling Platter Finance Corp8.500% 11/28/20250.0%
PARKWAY GENERATION LLC10.395% 02/18/20290.0%
Shimao Group Holdings Ltd5.200% 01/16/20270.0%
Logan Group Co Ltd4.500% 01/13/20280.0%
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC5.875% 02/15/20280.0%
New Frontera Holdings LLC7.152% 07/28/20280.0%
ESC 144A HERTZ CORP0.000% 01/15/20280.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
Logan Group Co Ltd5.250% 02/23/20230.0%
GS Mortgage Securities Corp Trust 2021-ROSS MZ14.949% 06/15/20260.0%
Rain CII Carbon LLC / CII Carbon Corp7.250% 04/01/20250.0%
US LONG BOND(CBT) Dec230.000% 12/29/20230.0%
Nine Energy Service Inc0.000% -0.0%
CHINOS INTERMEDIATE 2 LLC0.000% -0.0%
FGI Operating Co LLC0.000% 05/16/20240.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
TNT CRANE AND RIGGING0.000% -0.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
Shimao Group Holdings Ltd3.450% 01/11/20310.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
FX GBP/USD 12/230.000% 12/08/20230.0%
TNT CRANE AND RIGGING0.000% -0.0%
FRONTERA GENERATION0.000% -0.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX GBP/USD 12/230.000% 12/08/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
EURO-BUND FUTURE Dec230.000% 12/11/20230.0%
MIRABELA NICKEL LTD.1.000% 09/16/20440.0%
Tonon Luxembourg SA6.500% 10/31/20240.0%
Washington Mutual Bank / Debt not acquired by JPMorgan6.875% 06/15/20110.0%
PERSIMMON MIDCO LLC0.000% -0.0%
FX USD/EUR 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX EUR/USD 12/230.000% 12/13/20230.0%
FX USD/GBP 12/230.000% 12/08/20230.0%
US 2YR NOTE (CBT) Dec230.000% 01/04/20240.0%
US 10YR NOTE (CBT)Dec230.000% 12/29/2023-0.3%

Aggregate holdings are updated monthly, 30 days after month end. Aggregate holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of the areas in which the Fund may invest, and may not be representative of the Fund's current or future investments. The figures presented are as of the date shown and may change at any time.

Sector Allocationas of 10/31/2023

Sector Weighting Fund Change from Previous Quarter
Sector Weighting Fund Change from Previous Quarter
Energy arrowUp0.5%
Government 0.0%
Energy^oil&Gas^oil-Us Royalty Trusts -
Mortgage Securities 0.0%
Consumer Goods arrowDown0.2%
Retail arrowDown0.1%
Insurance 0.0%
Technology & Electronics arrowDown0.2%
Telecommunications arrowUp0.1%
Financial Services arrowUp0.5%
Real Estate arrowUp0.3%
Basic Industry arrowDown0.4%
Services arrowDown0.5%
Media arrowUp0.1%
Healthcare arrowDown0.1%
Leisure arrowDown0.1%
Utility arrowUp1.2%
Capital Goods arrowDown0.8%
Transportation arrowUp0.1%
Consumer, Non-Cyclical 0.0%
Banking arrowDown0.4%
Automotive arrowDown0.1%

Dividends & Cap Gains

Dividends & Cap Gains

Dividend Payments

Dividend Payments

For
YTD Dividends Paidas of 12/05/2023
$0.36798
Dividend Frequency
Monthly (Daily Accrual)
Record Date Ex-Dividend Date Reinvest & Payable Date Dividend Reinvest Price
Daily Daily 11/30/2023 $0.03507 $6.13
Daily Daily 10/31/2023 $0.03494 $5.90
Daily Daily 09/30/2023 $0.03490 $6.02
Daily Daily 08/31/2023 $0.03502 $6.14
Daily Daily 07/31/2023 $0.03399 $6.20
Daily Daily 06/30/2023 $0.03356 $6.15
Daily Daily 05/31/2023 $0.03354 $6.09
Daily Daily 04/30/2023 $0.03321 $6.20
Daily Daily 03/31/2023 $0.03109 $6.18
Daily Daily 02/28/2023 $0.03233 $6.13
Daily Daily 01/31/2023 $0.03034 $6.27

Upcoming Dividend Payment Dates

Record Date Ex-Dividend Date Reinvest & Payable Date
Daily Daily 12/31/2023

Capital Gains Distributions

For
Record Date Reinvest & Payable Date Long-term Short-term * Total Reinvest Price
12/16/2021 12/17/2021 - $0.0100 $0.0100 $7.45
*

Taxed as ordinary income

Lord Abbett does not provide tax advice. It is strongly recommended that you discuss the impact of dividends and distributions with your tax advisor. 

Fees & Expenses

Fees & Expenses

Sales Charge Schedule as of 12/05/2023

  Sales Charge Dealer's Concession Prices at Breakpoint
Less than $100,000 2.25% 2.00% $6.31
$100,000 to $249,999 1.75% 1.50% $6.28
$250,000 to $499,999 1.25% 1.00% $6.25
Greater than $500,000 0.00% 1.00% $6.17

The 12b-1 trail commission is 0.15% (accrues immediately) for all fixed-income and municipal income funds.

Class A shares purchased without a sales charge (commissionable NAV) will be subject to a CDSC of 1% if they are redeemed before the first day of the month in which the one-year anniversary of the purchase falls.

For Sales Charge Reductions and Waivers View Full Disclosure

Expense Ratioas of 10/31/2023

Fund Gross Expense Ratio Fund Net Expense Ratio
0.90% 0.90%

Fund Documents

Fund Documents

0Documents selected
Portfolio Holdings 1Q
Publish Date:11/03/2015
Portfolio Holdings 3Q
Publish Date:11/03/2015
Summary Prospectus
Publish Date:11/03/2015
Statutory Prospectus
Publish Date:11/03/2015
SAI
Publish Date:11/03/2015
Annual Report
Publish Date:11/03/2015
Semi-Annual Report
Publish Date:11/03/2015
Fact Sheet
Publish Date:11/03/2015
Commentary
Publish Date:11/03/2015

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Minimum initial investment varies depending on the class of shares you buy and the type of account. IRAs, SIMPLEs, and SEP accounts with payroll deductions have no minimums. Please see Fund prospectuses for additional information.      

                    

1

The 30-Day Standardized Yield represents net investment income earned by a fund over a 30-day period. It is expressed as an annual percentage rate using a method of calculation adopted by the Securities and Exchange Commission (SEC). Yields for other share classes will vary.

 

2

The 30-day Standardized Subsidized yields reflect fee waivers in effect. Without such fee waivers, yields would be reduced.  

 

3

The 30-day Standardized Unsubsidized yield does not reflect fee waivers.

A Note about Risk: The Fund is subject to the general risks associated with investing in debt securities, including market, credit, liquidity, and interest rate risk. The Fund invests primarily in high-yield, lower-rated securities, sometimes called junk bonds. These securities carry increased risks of price volatility, illiquidity, and the possibility of default in the timely payment of interest and principal. The Fund may invest in foreign or emerging market securities, which may be adversely affected by economic, political, or regulatory factors and subject to currency volatility and greater liquidity risk. The Fund may invest in derivatives, which are subject to greater liquidity, leverage, and counterparty risk. These factors can affect Fund performance.

 

Performance data quoted is historical. Past performance is not indicative of future results. Current performance may be higher or lower than the performance quoted. The investment return and principal value of an investment in the Fund will fluctuate so that shares, on any given day or when redeemed, may be worth more or less than their original cost. To obtain performance data current to the most recent quarter-end, go to quarter ending performance on our Website or call Lord Abbett at (888) 522-2388.

 

 

CUSIP identifiers have been provided by CUSIP Global Services, managed on behalf of the American Bankers Association by Standard & Poor’s Financial Services, LLC, and are not for use or dissemination in a manner that would serve as a substitute for any CUSIP service. The CUSIP Database, © 2011 American Bankers Association. “CUSIP” is a registered trademark of the American Bankers Association.

 

Class A  Except as noted below, returns with sales charges reflect a maximum sales charge of 5.75% for equity funds, 2.25% for all tax-free income funds, fixed income funds and multi-asset class funds. There are also ongoing 12b-1 service fees (and, in certain cases, distribution fees).

Class A Shares purchased subject to a front-end sales charge have no contingent deferred sales charge (CDSC). However, certain purchases of Class A shares made without a front-end sales charge may be subject to a CDSC of 1% if the shares are redeemed before the first day of the month in which the one year anniversary of the purchase falls. The CDSC is not reflected in the performance with maximum sales charge.

With Sales Charge - Returns with sales charges reflect applicable fees and expenses and include all distributions reinvested.

 

Without Sales Charge - Returns shown are without sales charges and have all distributions reinvested. If a sales charge had been deducted, the results would have been lower.

 

Returns shown at less than a year reflect aggregate total returns.

 

Double-Digit Returns - instances of high double-digit returns were achieved primarily during favorable market conditions and may not be sustainable over time.   

 

The ICE BofA Merrill Lynch U.S. High Yield Constrained Index is a capitalization-weighted index of all US dollar denominated below investment grade corporate debt publicly issued in the US domestic market. Qualifying securities must have a below investment grade rating (based on an average of Moody’s, S&P and Fitch), at least 18 months to final maturity at the time of issuance, at least one year remaining term to final maturity as of the rebalancing date, a fixed coupon schedule and a minimum amount outstanding of $100 million. The index caps individual issuer at 2%. Index constituents are capitalization-weighted, based on their current amount outstanding, provided the total allocation to an individual issuer does not exceed 2%. Issuers that exceed the limit are reduced to 2% and the face value of each of their bonds is adjusted on a pro-rata basis. The face values of bonds of all other issuers that fall below the 2% cap are increased on a pro-rata basis. In the event there are fewer than 50 issuers in the Index, each is equally weighted and the face values of their respective bonds are increased or decreased on a pro-rata basis.

Source: ICE Data Indices, LLC. 

Source ICE Data Indices, LLC (“ICE”), used with permission. ICE PERMITS USE OF THE ICE BofAML INDICES AND RELATED DATA ON AN "AS IS" BASIS, MAKES NO WARRANTIES REGARDING SAME, DOES NOT GUARANTEE THE SUITABILITY, QUALITY, ACCURACY, TIMELINESS, AND/OR COMPLETENESS OF THE ICE BofAML INDICES OR ANY DATA INCLUDED IN, RELATED TO, OR DERIVED THEREFROM, ASSUMES NO LIABILITY IN CONNECTION WITH THE USE OF THE FOREGOING, AND DOES NOT SPONSOR, ENDORSE, OR RECOMMEND LORD ABBETT, OR ANY OF ITS PRODUCTS OR SERVICES.

Indexes reflect total return, unless otherwise specified, with all dividends reinvested. Indexes are unmanaged, do not reflect the deduction of fees or expenses, and are not available for direct investment.

 

The Overall Morningstar RatingTM is derived from a weighted average of the performance figures associated with a fund's three-, five-, and 10-year (as applicable) Morningstar RatingTM metrics. © Morningstar, Inc. All rights reserved. The information contained herein (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information.

 

Morningstar proprietary ratings reflect historical risk-adjusted performance. For each fund with at least a three-year history, Morningstar calculates a Morningstar RatingTM based on a Morningstar risk-adjusted return measure that accounts for variation in a fund's monthly performance (including the effects of sales charges, loads and redemption fees), placing more emphasis on downward variations and rewarding consistent performance. Load-waived ratings do not include any front-end sales charges (which are only available for certain defined contribution plans and certain mutual fund advisory programs) and should only be considered by investors who are not subject to sales loads. Not all funds with a load-waived rating may waive their front-end load. An investor should check with their advisor to determine if they are eligible to purchase the load-waived Class A share. The top 10% of the funds in an investment category receive 5 stars, 22.5% receive 4 stars, 35% receive 3 stars, the next 22.5% receive 2 stars, and the bottom 10% receive 1 star. (Each share class is counted as a fraction of one fund within this scale and rated separately, which may cause slight variations in the distribution percentages). The Overall Morningstar rating is a weighted average of funds' three-, five-, and 10-year (as applicable) ratings. Past performance is no guarantee of future results. Morningstar Rating is for the Class A share only; other classes may have different performance characteristics.

 

Lipper Category Average - Peer group averages are based on universes of funds with the same investment objectives. The average return for the peer group is based on the returns of each individual fund within the group for the period shown. This average assumes reinvestment of dividends.

 

Fund Expense Ratio Detail: Reflects expenses for the Fund's fiscal year-end and is subject to change. Fund expenses may fluctuate with market volatility. A substantial reduction in Fund assets (since its most recently completed fiscal year), whether caused by market conditions or significant redemptions or both, will likely cause total operating expenses (as a percentage of Fund assets) to become higher than those shown.

 

 

Lipper Category Average Expense Ratio reflects the average net expenses of Class A shares of all funds with in the peer group based on Lipper data available.

 

The Fund's portfolio is actively managed and portfolio characteristics, such as individual holdings and sector weightings may change significantly over time. The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or recommendation to buy or sell securities or other investments.  

 

Dividends and Capital Gains: The information presented in this section is intended for general information and is not intended to be relied upon and should not be relied upon, as financial, legal or tax advice for any particular investor. We strongly recommend that you contact your financial, legal or tax advisor regarding your particular tax situation.

The information presented in this section is not written or intended to be used, and cannot be used, for the purpose of avoiding any tax liabilities or penalties.

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